More Volatile Trading Ahead

Good morning. Weakness in overseas markets (both the Hang Sang & Nikkei fell -5%) have provided negative sentiment in premarket trading. We've also seen a mixed reaction to this morning's economic data on personal income, personal spending and employment costs. Focus also remains on the latest batch of earnings reports while liquidity and credit conditions around the world continue to show improvement.

Premarket gainers: PDGI, AKAM, IVN, LMC, CAJ, NXG, SAIA, DIVX, SWIM, CDE, BOOM, AIRT, UCBH, MGM, WNR, LHCG, ARKR, IDCC, UAUA, EMS, GLBL, ESRX, AMR, MPEL, TITN, SJM, & MFE.

Premarket losers: ERTS, ACGY, BARE, VISN, PWAV, CNXT, MORN, HTGC, TRIN, GM, BT, PCLN, CSIQ, SOLF, CNXT, STLD, SBUX, BCS, PETS, GFIG, BCS, CTV, MT, IFX, MTL, AAUK, TRIN, JAVA, & GME.

As you might expect, expectations are quite low for both the Chicago manufacturing PMI (9:45) and the University of Michigan consumer sentiment survey (10:AM) and good news there would serve as a positive catalyst on an otherwise slow news day.

For the final trading day of October, I want to see the S&P simply hold above the 930 level which has been the area that buyers have come into the market over the past couple of days. Have a great Friday!